The immediate context: On 5 November 2026, Andoitz Korta, Deputy Minister for Industrial Promotion in the Basque government (Gobierno Vasco), met representatives of the works council of Vicinay in Sestao According to the government, Korta reaffirmed his solidarity with the workforce and the aim of securing a viable future plan for the company. He said the administration was monitoring the process closely and directly.
The company’s situation: Around six months ago, Vicinay was in insolvency proceedings and, according to the government, facing closure. The court-appointed administrators selected industrialist Dámaso Quintana as investor. Subsequently, the Gobierno Vasco and the predominantly privately funded fund Ekarpen took stakes in the division founded by Velora, ECN All Wind, into which Vicinay was incorporated. The Gobierno Vasco contributed 7.5 million euros directly and a further 8.7 million euros through Ekarpen. Quintana invested 60 million euros and restructured the company’s debts. In the government’s view, this gave Vicinay a second chance and safeguarded around 200 jobs.
The announced job cuts: The company’s management has initiated an ERE to adjust the workforce. Korta made clear that negotiations must take place between management and the works council, and that the government would not open parallel talks. At the same time, he pledged to mitigate the impact of the ERE and look for opportunities to redeploy affected employees within the enlarged ECN All Wind group. The public sector’s entry did not mean Vicinay had become a public company; in the private sector, redundancies could never be categorically ruled out, Korta said.
Economic context and outlook: ECN All Wind specialises in offshore wind and transmission and distribution networks. As part of this growth strategy, a new facility with an investment of 100 million euros was announced for Álava ; according to the company, it is expected to create around 100 jobs. Vicinay’s integration into ECN All Wind offers opportunities to win contracts in offshore energy, while the scale and pace of consolidation remain dependent on market conditions and the outcome of ongoing negotiations.
Context for the statements: The financial contributions, ownership structures and investment plans cited come from official Gobierno Vasco announcements. Assessments of employment effects and the practical implementation of the promised redeployments depend on further operational decisions and remain open.
Editor: Mira Cadena (Article created with AI assistance).